Name of the Project
Darwendale platinum group metals (PGMs) project.
Location
Great Dyke, Zimbabwe.
Project Owner/s
Great Dyke Investments (GDI), a joint venture between Russian company JSC Afromet and Zimbabwe company Peneast Mining Company.
Project Description
The Darwendale deposit is a part of the Great Dyke, one of the world’s largest systems of PGM mineralisation, with shallow-dipping orebodies. Total resources of the deposit amount to about 50-million ounces (1 550 t) of PGMs, of which 17.6-million ounces (550 t) have been thoroughly explored and confirmed according to Joint Ore Reserves Committee standards.
The project entails the construction of a PGMs mine and processing plant.
Envisaged is the gradual construction of mining, concentrating and smelting facilities, with all related infrastructure, in three stages.
The project will process up to ten-million tons of ore a year to eventually produce up to 855 000 oz/y of PGMs and gold.
Potential Job Creation
The project, once at full capacity, will create up to 8 000 highly skilled jobs.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The mine and associated infrastructure will cost $4-billion.
About $400-million will be invested in the first stage of the project.
Planned Start /End Date
Construction is expected to take two years to complete.
Latest Developments
Zimbabwe has signed an agreement with Russia to build the mine in the Southern Africa country, finalising a deal that has stalled since 2014.
“Two weeks ago we finalised the agreement and the Russians are ready to come on the ground,” Deputy Mines Minister Polite Kambaruma has said.
Key Contracts and Suppliers
DRA (bankable feasibility study); Loesche, MSA Group, TOMS Institute and Metallicon (engineering and process design); PwC and SFA Oxford (analytical support); Cresco Project Finance and EY (financial advisers).
On Budget and on Time?
Not stated.
Contact Details for Project Information
Great Dyke Investments, fax +263 474 5237 or email info@greatdykeinvest.com.